Will I have enough money through retirement?

Mismatch between retirement expectations and actual reality

Retirement is a chance to do more of what you enjoy. When it comes to planning for your retirement, you need to think about what you’d like your life to be like. There is no set retirement age in the UK any longer, so you can carry on working as long as you like (or as long as you need to).
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Economically active

Why longevity also brings with it some unique financial challenges

Statistics clearly show that Britons are living longer. While a long life can be a good thing, longevity also brings with it some unique financial challenges. Our ageing population is drastically altering the economic landscape of the UK, the latest figures from the Office for National Statistics (ONS) have indicated.
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Pensioner wealth

Income gap between the wealthiest and poorest pensioners is growing

The members of Britain’s baby boomer generation who are now entering retirement have been called ‘the richest generation in history’. But the income gap between the wealthiest and poorest pensioners is growing, with those in the top pension income band now having an average weekly income of almost £1,000.
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Pension shortfall exposure

Signs you are not financially ready to retire

Those potentially most exposed to a pension shortfall are not people just entering the workforce, most of whom presume they will work until their 70s and will receive limited support from the state. Those most at risk of enduring a more frugal older age are those currently in their 40s and 50s who grew up assuming that the pensions system their parents enjoyed – generous income and retirement in their mid-60s – was the norm.
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Taxing times ahead

Don’t be penalised by the tax system when you exercise your freedoms

The ‘pension freedom’ reforms of 2015 were welcomed by consumers, as they vastly widened options available to most savers at retirement. Pension freedoms allow savers to have the flexibility on how and when to spend their money without being penalised by the tax system, but it is worrying that some individuals plan to withdraw more than the tax-free lump sum limit.
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Financial support

Looking after your lifestyle during a time of uncertainty

Nobody wants to worry about how they’ll pay the bills if they become sick or injured and can’t work. But illness or injury can strike at any time and can lead to serious financial trouble. The latest government figures[1] report the dramatic increase in the likelihood of long-term sickness absence when we age, leading to an employment absence of four weeks or more.
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Inheritance Tax

How do you leave a legacy which serves your family’s best interests?

Will you be one of the thousands of households in Britain that will have to pay Inheritance Tax? What’s the best way to avoid it? If you’re administering an estate because someone has died, how do you obtain probate? Is it ever possible to retrospectively minimise an estate’s tax liabilities?
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Residence nil-rate band

How to apply the additional threshold

The Inheritance Tax residence nil-rate band (RNRB) came into effect on 6 April 2017. The RNRB provides an additional nil-rate band where an individual dies on or after 6 April 2017, owning a residence which they leave to direct descendants. During the 2019/20 tax year, the maximum RNRB available is £150,000. This rises in £175,000 in 2020/21, after which it will be indexed in line with the Consumer Prices Index.
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